Key Insights
The global mortar ammunition market, valued at $87.46 billion in 2025, is projected to experience robust growth, exhibiting a Compound Annual Growth Rate (CAGR) of 5.04% from 2025 to 2033. This expansion is driven by several key factors. Increased geopolitical instability and regional conflicts are fueling demand for reliable and effective indirect fire support systems, with mortar ammunition playing a crucial role. Modernization efforts by armed forces worldwide, focusing on enhanced accuracy, range, and lethality of mortar systems, are also significant contributors to market growth. Technological advancements, such as the development of precision-guided mortar munitions and smart fuzes, are further propelling market expansion, offering greater effectiveness and reduced collateral damage. Furthermore, increasing investments in defense budgets by several nations, particularly in regions experiencing heightened security concerns, are bolstering market prospects.
Mortar Ammunition Industry Market Size (In Billion)
However, the market also faces certain restraints. The high cost of developing and procuring advanced mortar ammunition can limit adoption, especially for nations with constrained defense budgets. Stringent regulations and export controls governing the sale and transfer of military equipment, including mortar ammunition, pose additional challenges. Furthermore, the development and implementation of alternative weapon systems and technologies could potentially impact the market's growth trajectory over the long term. Market segmentation by caliber type (light, medium, heavy) reflects the diverse operational needs and tactical preferences of various armed forces, with medium-caliber mortar ammunition likely dominating the market share due to its versatility and widespread use. Key players in this competitive landscape, including General Dynamics, Rheinmetall, and Elbit Systems, are focusing on innovation, partnerships, and strategic acquisitions to maintain their market positions and capitalize on emerging growth opportunities. Regional analysis indicates strong demand from North America and Europe, driven by substantial defense spending and existing military infrastructure. However, the Asia-Pacific region is anticipated to witness significant growth in the coming years, fueled by increasing military modernization efforts and rising geopolitical tensions.
Mortar Ammunition Industry Company Market Share
Mortar Ammunition Industry Market Report: 2019-2033
This comprehensive report provides an in-depth analysis of the global mortar ammunition industry, offering invaluable insights for industry professionals, investors, and strategic decision-makers. Covering the period from 2019 to 2033, with a base year of 2025, this report unveils the market's dynamics, trends, and future outlook. The report includes detailed segmentation by caliber type (Light, Medium, Heavy) and profiles key players such as General Dynamics Corporation, Rheinmetall AG, and Elbit Systems Ltd., among others. With a projected market size exceeding xx Million by 2033, this report is an essential resource for navigating the complexities of this critical sector.
Mortar Ammunition Industry Market Structure & Innovation Trends
The global mortar ammunition market exhibits a moderately concentrated structure, with a few dominant players holding significant market share. General Dynamics Corporation, Rheinmetall AG, and Elbit Systems Ltd. are among the leading companies, collectively accounting for an estimated xx% of the market in 2025. Innovation is driven by the need for enhanced accuracy, range, and lethality, leading to the development of smart munitions and precision-guided mortar rounds. Stringent regulatory frameworks governing the production and export of military equipment significantly influence market dynamics. The market also witnesses considerable M&A activity, with deal values exceeding xx Million in recent years, reflecting strategic consolidation within the industry.
- Market Concentration: Moderately concentrated, with top 3 players holding xx% market share (2025).
- Innovation Drivers: Improved accuracy, range, smart munitions, precision-guided rounds.
- Regulatory Framework: Stringent regulations governing production and export.
- Product Substitutes: Limited direct substitutes, but alternative weapon systems exist.
- End-User Demographics: Primarily government defense forces and allied militaries.
- M&A Activity: Significant activity with deal values exceeding xx Million in recent years.
Mortar Ammunition Industry Market Dynamics & Trends
The global mortar ammunition market is experiencing robust growth, driven by increasing geopolitical instability, modernization of armed forces, and rising demand from conflict zones. The market's Compound Annual Growth Rate (CAGR) is projected to be xx% during the forecast period (2025-2033). Technological advancements, such as the integration of advanced guidance systems and improved propellant formulations, are further stimulating market expansion. Consumer preferences are shifting towards lighter, more accurate, and versatile mortar systems. Competitive dynamics are intense, with companies focusing on innovation, cost efficiency, and strategic partnerships to gain a competitive edge. Market penetration is expected to reach xx% by 2033, driven by increased adoption in various military operations.
Dominant Regions & Segments in Mortar Ammunition Industry
North America currently holds the largest market share in the global mortar ammunition market, driven by substantial defense budgets and technological advancements. However, the Asia-Pacific region is exhibiting the fastest growth rate, propelled by increased military expenditure and modernization efforts in several countries.
- Key Drivers for North America: High defense budgets, technological leadership, robust R&D activities.
- Key Drivers for Asia-Pacific: Increased military spending, regional conflicts, modernization of armed forces.
- Caliber Type Segmentation: The 120mm segment dominates the market due to its versatility and effectiveness in various combat scenarios. The light caliber segment is anticipated to exhibit steady growth due to its portability and suitability for specialized operations.
The dominance analysis indicates that the 120 mm caliber segment is currently the leading segment in terms of both volume and revenue, driven by its widespread use by major military forces worldwide.
Mortar Ammunition Industry Product Innovations
Recent innovations include the development of precision-guided mortar munitions, utilizing advanced guidance systems to enhance accuracy and reduce collateral damage. The integration of improved propellant formulations leads to extended range and increased lethality. These advancements are improving the overall effectiveness of mortar systems, increasing their market appeal.
Report Scope & Segmentation Analysis
This report segments the mortar ammunition market primarily by caliber type: Light, Medium, and Heavy.
- Light Caliber: This segment is characterized by high portability and suitability for specialized operations. Growth is projected to be xx% during the forecast period. Competitive dynamics are driven by cost efficiency and ease of use.
- Medium Caliber: This segment offers a balance between portability and firepower. Growth is projected at xx% during the forecast period, driven by its versatility across various operational scenarios.
- Heavy Caliber: This segment dominates in terms of range and destructive power. Growth is anticipated at xx% during the forecast period, driven by the increasing demand for larger-caliber mortar systems.
Key Drivers of Mortar Ammunition Industry Growth
The mortar ammunition industry's growth is fueled by several factors: rising global defense budgets, ongoing conflicts and geopolitical instability, modernization of armed forces, and technological advancements resulting in increased accuracy and range of mortar systems. These factors collectively drive the demand for advanced mortar ammunition solutions.
Challenges in the Mortar Ammunition Industry Sector
The industry faces challenges like stringent export regulations, supply chain complexities impacting production timelines and costs, and intense competition among major players. These factors can significantly hinder market growth. The impact of these challenges is estimated to cost the industry approximately xx Million annually in lost revenue and increased operational expenses.
Emerging Opportunities in Mortar Ammunition Industry
Emerging opportunities lie in the development of smart munitions, incorporating advanced guidance systems and improved lethality, and expanding into new markets with increasing defense budgets. Furthermore, the development of sustainable and environmentally friendly propellant formulations presents a significant opportunity.
Leading Players in the Mortar Ammunition Industry Market
- General Dynamics Corporation
- Rheinmetall AG
- Elbit Systems Ltd
- ARSENAL JSCo
- Nexter Systems SA
- Hanwha Corporatio
- Denel SOC Ltd
- BAE Systems PLC
- Hirtenberger Defence Systems GmbH & Co KG
- Nammo AS
- Singapore Technologies Engineering Ltd
- Mechanical and Chemical Industry Company (MKEK)
- Saab AB
Key Developments in Mortar Ammunition Industry
- November 2023: Rheinmetall received an order from the German government to supply Ukraine with around 100,000 rounds of 120 mm mortar ammunition as part of a EUR 400 Million military aid package. This highlights the significant demand for mortar ammunition in active conflict zones.
- April 2024: Rheinmetall was awarded a contract by Spanish authorities to supply 104,000 mortar projectiles (60mm, 81mm, and 120mm) by the end of 2025. This signifies ongoing investment in mortar ammunition by European nations.
Future Outlook for Mortar Ammunition Industry Market
The future of the mortar ammunition market is promising, with continued growth driven by ongoing geopolitical uncertainties and the modernization of global armed forces. Strategic partnerships, technological innovations, and expansion into new markets are expected to drive future growth, creating significant opportunities for industry players.
Mortar Ammunition Industry Segmentation
-
1. Caliber Type
- 1.1. Light
- 1.2. Medium
- 1.3. Heavy
Mortar Ammunition Industry Segmentation By Geography
-
1. North America
- 1.1. United States
- 1.2. Canada
-
2. Europe
- 2.1. United Kingdom
- 2.2. France
- 2.3. Germany
- 2.4. Rest of Europe
-
3. Asia Pacific
- 3.1. China
- 3.2. India
- 3.3. Japan
- 3.4. South Korea
- 3.5. Rest of Asia Pacific
-
4. Latin America
- 4.1. Mexico
- 4.2. Rest of Latin America
-
5. Middle East and Africa
- 5.1. Saudi Arabia
- 5.2. United Arab Emirates
- 5.3. South Africa
- 5.4. Rest of Middle East and Africa
Mortar Ammunition Industry Regional Market Share
Geographic Coverage of Mortar Ammunition Industry
Mortar Ammunition Industry REPORT HIGHLIGHTS
| Aspects | Details |
|---|---|
| Study Period | 2020-2034 |
| Base Year | 2025 |
| Estimated Year | 2026 |
| Forecast Period | 2026-2034 |
| Historical Period | 2020-2025 |
| Growth Rate | CAGR of 5.04% from 2020-2034 |
| Segmentation |
|
Table of Contents
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 2.1. Introduction
- 3. Market Dynamics
- 3.1. Introduction
- 3.2. Market Drivers
- 3.3. Market Restrains
- 3.4. Market Trends
- 3.4.1. The Heavy Caliber Segment is Expected to Witness the Highest Growth During the Forecast Period
- 4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
- 5. Global Mortar Ammunition Industry Analysis, Insights and Forecast, 2020-2032
- 5.1. Market Analysis, Insights and Forecast - by Caliber Type
- 5.1.1. Light
- 5.1.2. Medium
- 5.1.3. Heavy
- 5.2. Market Analysis, Insights and Forecast - by Region
- 5.2.1. North America
- 5.2.2. Europe
- 5.2.3. Asia Pacific
- 5.2.4. Latin America
- 5.2.5. Middle East and Africa
- 5.1. Market Analysis, Insights and Forecast - by Caliber Type
- 6. North America Mortar Ammunition Industry Analysis, Insights and Forecast, 2020-2032
- 6.1. Market Analysis, Insights and Forecast - by Caliber Type
- 6.1.1. Light
- 6.1.2. Medium
- 6.1.3. Heavy
- 6.1. Market Analysis, Insights and Forecast - by Caliber Type
- 7. Europe Mortar Ammunition Industry Analysis, Insights and Forecast, 2020-2032
- 7.1. Market Analysis, Insights and Forecast - by Caliber Type
- 7.1.1. Light
- 7.1.2. Medium
- 7.1.3. Heavy
- 7.1. Market Analysis, Insights and Forecast - by Caliber Type
- 8. Asia Pacific Mortar Ammunition Industry Analysis, Insights and Forecast, 2020-2032
- 8.1. Market Analysis, Insights and Forecast - by Caliber Type
- 8.1.1. Light
- 8.1.2. Medium
- 8.1.3. Heavy
- 8.1. Market Analysis, Insights and Forecast - by Caliber Type
- 9. Latin America Mortar Ammunition Industry Analysis, Insights and Forecast, 2020-2032
- 9.1. Market Analysis, Insights and Forecast - by Caliber Type
- 9.1.1. Light
- 9.1.2. Medium
- 9.1.3. Heavy
- 9.1. Market Analysis, Insights and Forecast - by Caliber Type
- 10. Middle East and Africa Mortar Ammunition Industry Analysis, Insights and Forecast, 2020-2032
- 10.1. Market Analysis, Insights and Forecast - by Caliber Type
- 10.1.1. Light
- 10.1.2. Medium
- 10.1.3. Heavy
- 10.1. Market Analysis, Insights and Forecast - by Caliber Type
- 11. Competitive Analysis
- 11.1. Global Market Share Analysis 2025
- 11.2. Company Profiles
- 11.2.1 General Dynamics Corporation
- 11.2.1.1. Overview
- 11.2.1.2. Products
- 11.2.1.3. SWOT Analysis
- 11.2.1.4. Recent Developments
- 11.2.1.5. Financials (Based on Availability)
- 11.2.2 Rheinmetall AG
- 11.2.2.1. Overview
- 11.2.2.2. Products
- 11.2.2.3. SWOT Analysis
- 11.2.2.4. Recent Developments
- 11.2.2.5. Financials (Based on Availability)
- 11.2.3 Elbit Systems Ltd
- 11.2.3.1. Overview
- 11.2.3.2. Products
- 11.2.3.3. SWOT Analysis
- 11.2.3.4. Recent Developments
- 11.2.3.5. Financials (Based on Availability)
- 11.2.4 ARSENAL JSCo
- 11.2.4.1. Overview
- 11.2.4.2. Products
- 11.2.4.3. SWOT Analysis
- 11.2.4.4. Recent Developments
- 11.2.4.5. Financials (Based on Availability)
- 11.2.5 Nexter Systems SA
- 11.2.5.1. Overview
- 11.2.5.2. Products
- 11.2.5.3. SWOT Analysis
- 11.2.5.4. Recent Developments
- 11.2.5.5. Financials (Based on Availability)
- 11.2.6 Hanwha Corporatio
- 11.2.6.1. Overview
- 11.2.6.2. Products
- 11.2.6.3. SWOT Analysis
- 11.2.6.4. Recent Developments
- 11.2.6.5. Financials (Based on Availability)
- 11.2.7 Denel SOC Ltd
- 11.2.7.1. Overview
- 11.2.7.2. Products
- 11.2.7.3. SWOT Analysis
- 11.2.7.4. Recent Developments
- 11.2.7.5. Financials (Based on Availability)
- 11.2.8 BAE Systems PLC
- 11.2.8.1. Overview
- 11.2.8.2. Products
- 11.2.8.3. SWOT Analysis
- 11.2.8.4. Recent Developments
- 11.2.8.5. Financials (Based on Availability)
- 11.2.9 Hirtenberger Defence Systems GmbH & Co KG
- 11.2.9.1. Overview
- 11.2.9.2. Products
- 11.2.9.3. SWOT Analysis
- 11.2.9.4. Recent Developments
- 11.2.9.5. Financials (Based on Availability)
- 11.2.10 Nammo AS
- 11.2.10.1. Overview
- 11.2.10.2. Products
- 11.2.10.3. SWOT Analysis
- 11.2.10.4. Recent Developments
- 11.2.10.5. Financials (Based on Availability)
- 11.2.11 Singapore Technologies Engineering Ltd
- 11.2.11.1. Overview
- 11.2.11.2. Products
- 11.2.11.3. SWOT Analysis
- 11.2.11.4. Recent Developments
- 11.2.11.5. Financials (Based on Availability)
- 11.2.12 Mechanical and Chemical Industry Company (MKEK)
- 11.2.12.1. Overview
- 11.2.12.2. Products
- 11.2.12.3. SWOT Analysis
- 11.2.12.4. Recent Developments
- 11.2.12.5. Financials (Based on Availability)
- 11.2.13 Saab AB
- 11.2.13.1. Overview
- 11.2.13.2. Products
- 11.2.13.3. SWOT Analysis
- 11.2.13.4. Recent Developments
- 11.2.13.5. Financials (Based on Availability)
- 11.2.1 General Dynamics Corporation
List of Figures
- Figure 1: Global Mortar Ammunition Industry Revenue Breakdown (Million, %) by Region 2025 & 2033
- Figure 2: North America Mortar Ammunition Industry Revenue (Million), by Caliber Type 2025 & 2033
- Figure 3: North America Mortar Ammunition Industry Revenue Share (%), by Caliber Type 2025 & 2033
- Figure 4: North America Mortar Ammunition Industry Revenue (Million), by Country 2025 & 2033
- Figure 5: North America Mortar Ammunition Industry Revenue Share (%), by Country 2025 & 2033
- Figure 6: Europe Mortar Ammunition Industry Revenue (Million), by Caliber Type 2025 & 2033
- Figure 7: Europe Mortar Ammunition Industry Revenue Share (%), by Caliber Type 2025 & 2033
- Figure 8: Europe Mortar Ammunition Industry Revenue (Million), by Country 2025 & 2033
- Figure 9: Europe Mortar Ammunition Industry Revenue Share (%), by Country 2025 & 2033
- Figure 10: Asia Pacific Mortar Ammunition Industry Revenue (Million), by Caliber Type 2025 & 2033
- Figure 11: Asia Pacific Mortar Ammunition Industry Revenue Share (%), by Caliber Type 2025 & 2033
- Figure 12: Asia Pacific Mortar Ammunition Industry Revenue (Million), by Country 2025 & 2033
- Figure 13: Asia Pacific Mortar Ammunition Industry Revenue Share (%), by Country 2025 & 2033
- Figure 14: Latin America Mortar Ammunition Industry Revenue (Million), by Caliber Type 2025 & 2033
- Figure 15: Latin America Mortar Ammunition Industry Revenue Share (%), by Caliber Type 2025 & 2033
- Figure 16: Latin America Mortar Ammunition Industry Revenue (Million), by Country 2025 & 2033
- Figure 17: Latin America Mortar Ammunition Industry Revenue Share (%), by Country 2025 & 2033
- Figure 18: Middle East and Africa Mortar Ammunition Industry Revenue (Million), by Caliber Type 2025 & 2033
- Figure 19: Middle East and Africa Mortar Ammunition Industry Revenue Share (%), by Caliber Type 2025 & 2033
- Figure 20: Middle East and Africa Mortar Ammunition Industry Revenue (Million), by Country 2025 & 2033
- Figure 21: Middle East and Africa Mortar Ammunition Industry Revenue Share (%), by Country 2025 & 2033
List of Tables
- Table 1: Global Mortar Ammunition Industry Revenue Million Forecast, by Caliber Type 2020 & 2033
- Table 2: Global Mortar Ammunition Industry Revenue Million Forecast, by Region 2020 & 2033
- Table 3: Global Mortar Ammunition Industry Revenue Million Forecast, by Caliber Type 2020 & 2033
- Table 4: Global Mortar Ammunition Industry Revenue Million Forecast, by Country 2020 & 2033
- Table 5: United States Mortar Ammunition Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 6: Canada Mortar Ammunition Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 7: Global Mortar Ammunition Industry Revenue Million Forecast, by Caliber Type 2020 & 2033
- Table 8: Global Mortar Ammunition Industry Revenue Million Forecast, by Country 2020 & 2033
- Table 9: United Kingdom Mortar Ammunition Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 10: France Mortar Ammunition Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 11: Germany Mortar Ammunition Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 12: Rest of Europe Mortar Ammunition Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 13: Global Mortar Ammunition Industry Revenue Million Forecast, by Caliber Type 2020 & 2033
- Table 14: Global Mortar Ammunition Industry Revenue Million Forecast, by Country 2020 & 2033
- Table 15: China Mortar Ammunition Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 16: India Mortar Ammunition Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 17: Japan Mortar Ammunition Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 18: South Korea Mortar Ammunition Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 19: Rest of Asia Pacific Mortar Ammunition Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 20: Global Mortar Ammunition Industry Revenue Million Forecast, by Caliber Type 2020 & 2033
- Table 21: Global Mortar Ammunition Industry Revenue Million Forecast, by Country 2020 & 2033
- Table 22: Mexico Mortar Ammunition Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 23: Rest of Latin America Mortar Ammunition Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 24: Global Mortar Ammunition Industry Revenue Million Forecast, by Caliber Type 2020 & 2033
- Table 25: Global Mortar Ammunition Industry Revenue Million Forecast, by Country 2020 & 2033
- Table 26: Saudi Arabia Mortar Ammunition Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 27: United Arab Emirates Mortar Ammunition Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 28: South Africa Mortar Ammunition Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 29: Rest of Middle East and Africa Mortar Ammunition Industry Revenue (Million) Forecast, by Application 2020 & 2033
Frequently Asked Questions
1. What is the projected Compound Annual Growth Rate (CAGR) of the Mortar Ammunition Industry?
The projected CAGR is approximately 5.04%.
2. Which companies are prominent players in the Mortar Ammunition Industry?
Key companies in the market include General Dynamics Corporation, Rheinmetall AG, Elbit Systems Ltd, ARSENAL JSCo, Nexter Systems SA, Hanwha Corporatio, Denel SOC Ltd, BAE Systems PLC, Hirtenberger Defence Systems GmbH & Co KG, Nammo AS, Singapore Technologies Engineering Ltd, Mechanical and Chemical Industry Company (MKEK), Saab AB.
3. What are the main segments of the Mortar Ammunition Industry?
The market segments include Caliber Type.
4. Can you provide details about the market size?
The market size is estimated to be USD 87.46 Million as of 2022.
5. What are some drivers contributing to market growth?
N/A
6. What are the notable trends driving market growth?
The Heavy Caliber Segment is Expected to Witness the Highest Growth During the Forecast Period.
7. Are there any restraints impacting market growth?
N/A
8. Can you provide examples of recent developments in the market?
April 2024: Rheinmetall was awarded a contract by the Spanish authorities to supply 104,000 mortar projectiles in various caliber sizes, including 60 mm, 81 mm, and 120 mm, by the end of 2025.
9. What pricing options are available for accessing the report?
Pricing options include single-user, multi-user, and enterprise licenses priced at USD 4750, USD 5250, and USD 8750 respectively.
10. Is the market size provided in terms of value or volume?
The market size is provided in terms of value, measured in Million.
11. Are there any specific market keywords associated with the report?
Yes, the market keyword associated with the report is "Mortar Ammunition Industry," which aids in identifying and referencing the specific market segment covered.
12. How do I determine which pricing option suits my needs best?
The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.
13. Are there any additional resources or data provided in the Mortar Ammunition Industry report?
While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.
14. How can I stay updated on further developments or reports in the Mortar Ammunition Industry?
To stay informed about further developments, trends, and reports in the Mortar Ammunition Industry, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.
Methodology
Step 1 - Identification of Relevant Samples Size from Population Database
Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)
Note*: In applicable scenarios
Step 3 - Data Sources
Primary Research
- Web Analytics
- Survey Reports
- Research Institute
- Latest Research Reports
- Opinion Leaders
Secondary Research
- Annual Reports
- White Paper
- Latest Press Release
- Industry Association
- Paid Database
- Investor Presentations
Step 4 - Data Triangulation
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence